Market Research Future

Global Gas to liquid(GTL) Market Is Projected to Grow USD 16,374.5 Million by 2022

Pune, India -- (SBWIRE) -- 01/10/2018 -- Market Highlights
Gas to liquid (GTL) is a refinery process that converts natural gas or other gaseous hydrocarbons into longer-chain hydrocarbons such as gasoline or diesel fuel. The process converts methane-rich gases into liquid synthetic fuels by direct conversion or by using synthetic gas (syngas) as an intermediate through the Fisher Tropsch process. Increasing concerns over fossil fuel depletion and demand for alternative energy sources, are expected to foster industry growth. Global Gas to Liquid (GTL) Market is expected to reach a market size of USD 16,374.5 million with CAGR of around 7.42% during the period 2017 to 2022

Market Research Analysis
Based on product, Gas to liquid (GTL) market has been divided as GTL diesel, and GTL naphtha. GTL diesel accounted for the largest market share of 72.84% in 2016, with a market value of USD 198.0 million. Gas to liquid diesel is superior than conventional refinery diesel produced from crude oil, in quality. GTL diesel fuels produced by the Fischer-Tropsch process, typically, have very high cetane number and zero sulfur content, and can provide reductions in particulate and NOx emissions. The low-emission premium grade fuel can either be used pure or in blends with traditional diesel. GTL Naphtha was the second-largest market in 2016, valued at USD 73.8 Million. GTL Naphtha is an alternative high-quality feedstock for chemical manufacturing that makes the building blocks for plastics. It offers superior yields of ethylene and propylene over conventional naphtha. As a synthetic product, GTL Naphtha has a consistent quality and contains no sulphur and heavy metals, which makes it cleaner. It is also more paraffinic than light high paraffinic naphtha while giving better lower olefins yields.

Based on application, the market has been divided as Fuel Oil, Lubricating Oil, Process Oil, and Others. Fuel Oil accounted for the largest market share of 36.2% in 2016, with a market value of USD 98.4 Million. Fuel oil is the advanced heavy fuel oil used in boilers and other equipment for generating heat and energy in manufacturing operations and processes. It helps improve the reliability and the performance of the entire boiler system, from the storage tank right to the chimney. Lubricating Oil was the second-largest market, in 2016, valued at USD 81.2 Million. GTL lubricants, come with essentially zero sulfur and nitrogen, excellent oxidation stability and low viscosity, even at low temperatures. Process oil is another major application of the market and is projected to grow at a CAGR of 7.00% during the forecast period. GTL process oils are used in a wide variety of chemical and technical industries, either as raw material component or as an aid to processing. GTL Process Oils have a water-white color as well as they offer a uniform chemical structure, a high flash point and low volatility, and an outstanding light and thermal stability.

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